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Environment & Energy
Related: About this forumFeuer and Blumenfield’s Divest From Iran Act Goes Into Effect (California)
http://www.vannuysnewspress.com/news/2012/01/03/feuer-and-blumenfield%E2%80%99s-divest-from-iran-act-goes-into-effect/
Tuesday, January 3rd, 2012 | Posted by George Thomas
Feuer and Blumenfields Divest From Iran Act Goes Into Effect
New Law Will Enhance Current Divestiture Law and Ensure Taxpayer Dollars are Not Invested in Companies Doing Business with Iranian Energy Interests Los Angeles, CA Assembly Bill 1151, the Divest From Iran Act, went into effect on January 1, 2012. The new law, authored by Assembly Members Mike Feuer (D-Los Angeles) and Bob Blumenfield (DSan Fernando Valley), enhances Californias current divestiture law and brings new levels of transparency and accountability to Californias public pension funds, helping ensure that taxpayer dollars do not go toward investing in companies that do business with Iranian energy interests.
This new law underscores that complying with Californias divestment laws is mandatory, said Feuer. As one of the worlds largest economies, California can take a meaningful stand against companies that choose to fund Irans nuclear ambitions by investing in its energy sector. By signing AB 1151, the Governor has sent the message that this responsibility will be taken seriously. CalPERS has ignored the law requiring divestment from Iran for too long, said Blumenfield. This new law will help us fight to keep CalPERS accountable. If CalPERS refuses to abide by the law, it must publicly disclose why.
Assembly Members Feuer and Blumenfield have been waging a multi-prong campaign to ensure that Californias financial resources are not invested in companies doing business in Irans energy sector and not used to bolster Irans nuclear weapons development or extremist activities. Last year, they authored the Iran Contracting Act of 2010, which prohibits contracts of $1 million or more between the State of California (including its cities and counties) and companies with significant business in Irans energy sector. AB 1650 also passed with bipartisan support. Recently, Feuer and Blumenfield contacted legislative leaders around the country urging them to become part of a national network asserting financial pressure to stop Irans nuclear ambitions by advancing similar contractual divestment legislation.
Tuesday, January 3rd, 2012 | Posted by George Thomas
Feuer and Blumenfields Divest From Iran Act Goes Into Effect
New Law Will Enhance Current Divestiture Law and Ensure Taxpayer Dollars are Not Invested in Companies Doing Business with Iranian Energy Interests Los Angeles, CA Assembly Bill 1151, the Divest From Iran Act, went into effect on January 1, 2012. The new law, authored by Assembly Members Mike Feuer (D-Los Angeles) and Bob Blumenfield (DSan Fernando Valley), enhances Californias current divestiture law and brings new levels of transparency and accountability to Californias public pension funds, helping ensure that taxpayer dollars do not go toward investing in companies that do business with Iranian energy interests.
This new law underscores that complying with Californias divestment laws is mandatory, said Feuer. As one of the worlds largest economies, California can take a meaningful stand against companies that choose to fund Irans nuclear ambitions by investing in its energy sector. By signing AB 1151, the Governor has sent the message that this responsibility will be taken seriously. CalPERS has ignored the law requiring divestment from Iran for too long, said Blumenfield. This new law will help us fight to keep CalPERS accountable. If CalPERS refuses to abide by the law, it must publicly disclose why.
Assembly Members Feuer and Blumenfield have been waging a multi-prong campaign to ensure that Californias financial resources are not invested in companies doing business in Irans energy sector and not used to bolster Irans nuclear weapons development or extremist activities. Last year, they authored the Iran Contracting Act of 2010, which prohibits contracts of $1 million or more between the State of California (including its cities and counties) and companies with significant business in Irans energy sector. AB 1650 also passed with bipartisan support. Recently, Feuer and Blumenfield contacted legislative leaders around the country urging them to become part of a national network asserting financial pressure to stop Irans nuclear ambitions by advancing similar contractual divestment legislation.
Divestment was very effective in ending apartheid.
Massachusetts, New York, Florida, and Georgia are also divesting from Iran: http://www.democraticunderground.com/11273136
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Feuer and Blumenfield’s Divest From Iran Act Goes Into Effect (California) (Original Post)
bananas
Jan 2012
OP
Nihil
(13,508 posts)1. All you need is patience ...
> Divestment was very effective in ending apartheid.
Mind you, it wasn't too useful (*) in Iraq was it?
Ten years of gleefully watching civilians die through sanctions and
still having to "go in hot" at the end to get anywhere.
(*) = "useful to the cause" not "useful to the Halliburton/Bechtel/MIC"